Tone’s MA #72 – Get Ready for Bitcoin Aug Split

hello everyone welcome to another edition of tones market analysis for Wednesday July 12 as you can see I’m still in support of the user activated so fork and I’m still expecting everything everything to go everything’s a go for this first we’re getting ready all right let me share a screen my website is finally up to date I finally released this article so if you do not follow me on Twitter make sure you go to Liberty Life trail and read this article I actually have no idea how many people read this article because um I don’t have like a view counter like I don’t have any metrics like I don’t do analytics like I don’t care guys I’m I I just find the time to get out content and I don’t worry about you know my popularity or how many people actually see the article so I should I recommend you read this and I will get back to it later in the show um also I’ve decided to go up to Montreal tomorrow there was a user activated soft fork understanding and prepare event it’s a meetup in Montreal it should be great so I will be heading out there this event will be live-streamed I might be one of the live streamers right on this channel there’s gonna be a dedicated I I think a Bitcoin embassy out of Montreal they’re gonna livestream it as well so there’ll be several livestream so watch out for that that’s gonna take place tomorrow also on my agenda for tonight I’m gonna head back to my cabin so I have between midnight tonight and about 9 a.m. tomorrow morning to finish setting up my my a blonde minor I already created an account on slush pool I’m gonna set that sucker up I have all night to do it i will get that sucker going i’m gonna put it on slush pool i’m gonna point it to a bit 148 i’m gonna get it done i did a bunch of more research as you can see I have like my my back and forth with cam and support and I have like all of their other articles and a lot of their I mean like look this stuff isn’t it wasn’t that easy for me right like it wasn’t even that easy for me to set up the node and get poured eight three three three open so I have to finish the job I have to get the miner up and running so I’m gonna do that quick calendar update I’m obviously not in London this week but I will be in LA I have my ticket to LA I don’t have my ticket coming home I might go to San Francisco I have no idea what my plans are but I will be speaking in LA on July 22nd and after that I’ll try and go to San Francisco and maybe attend the San Francisco meetup on the 25th and there’s some kind of an event on the 27th I don’t know but I’ll look into it all right and if you are in Montreal I definitely come out come out tomorrow night if there isn’t too much traffic and I don’t get detained at the border for one reason or another I do plan to drive two months for y’all it’s about like a 7 8 hour drive from you or something so I’ll Drive into Montreal Thursday I’m gonna try and be there like an hour ahead attend the the Meetup I’ll try and find some energy to go out and the next morning drive back into the US okay so that’s so you can imagine how busy I am alright let’s go into the markets I’m already like five minutes in okay here’s the daily version of the stock market and look I’ve just been copying and pasting this whole thing through right this is why buy and hold it does extremely well unless you’re babysitting the market or an asset where you can’t sell on this dip and then buy off the dip right you can like sell on this and buy on that so notice the big difference here right I said I said a year ago this while all these gloom and doom websites right whether it’s Zero Hedge whether it’s you know everybody and their mother that is selling newsletters they’re always telling you that the stock market is all time high and it’s getting ready to collapse okay here’s what I mean go back to my videos go back to my videos from last year I think I started this channel in October I think my channel started in October okay look big yellow box cannot be all-time high too many exits cannot be all-time high too many exits we go higher ha look I don’t have it here right so I should probably add this in here let me look let me put a lame put a circle in here very hindsight but it’s a different kind of hindsight you know what I don’t need that right for a big circle in here oh not exactly how I plan to draw a circle but if this more real now okay so I can put a circle in here and then I can do one of these right so I’m gonna say this can be all-time high because you only had one Baker exit alright order is gonna do red a very light a lighter okay so this is how you supposed to read the market guys something like this could have been an all-time high okay it could have been but uh you had one more shot than it came up a little bit short little bit short okay so you still could have it still could have been and then I had this yellow line here for falls below the yellow line boom you’re looking at a monster pull back to the 200-day moving average than that the 50-day has been bouncing you pretty well okay let me zoom in a little bit all right before we get to today okay probably make this thing a little smaller for future reference there you go okay and then we’re back boom cannot be all-time high again once we get into this box done we’re going higher there we go we’re back in the box and look what’s going on I can just keep extending this box right we fell out of the box for one day back in the box huge gap into today and boom okay this arrow still holds I can move the text over a little bit so with it’s more in the middle on and we’re gonna go higher okay let me throw the numerix on here III also loved it that this possible all-time high came on a nine came on a nine a nine is a sell signal right there came on a nine sell and more reason to think it might be the all-time high and here we are again right we’re flip-flopping back and forth so if you were trading this particular indicator you would have been in cash this entire time like since well like you would have been bullish right here on the two you would have gone long here and you would have stayed long until this red candle where you go back to cash you could have gone short on this candle right here this guy but then the next day you’re back in cash and again here and now you’re in cash color flips you’re in cash like complete indecision like I wouldn’t even touch it like you wait till it gets out of the box but every time it gets out of the box boom it takes off so if the if this is if tomorrow is a new all-time high for the SNP five droid man I would be very very bullish and let’s see how bullish I would be I would be bullish right into this red line I mean not in one day obviously that would be insane but we go up okay all right I’ll move on let me close let me save these clothes I didn’t do anything to it all right gold here’s the daily gold chart and it looks bad it looks like it just still looks bad right you just made a lower low no clear divergence in the indicators at all so there’s really there’s nothing to clink – absolutely nothing this may be the the bear market low but it’s too early to tell again right it’s once again is terribly to tell because if we go below this low for go below like the 1180 low it I mean did this slow isn’t gonna do anything I mean once we go below this major low I it’s all she wrote I mean we’re gonna go back down let me just zoom in see what’s going on on the daily you know if I’m gonna submit let me draw off the indicators let me throw these guys in right so you see this nine right here I’m pretty sure on my last video this nine was already there and I would have said get ready for a 1 to 4 candle bounce so this is perfect right we have 1 2 there’s no re-entry – you’re sure this arrow keeps getting away I keep moving around but it’s always like no matter where I put it it’s always in the way get ready for a 1 to 4 candle bounce and then we’re going lower also this 13 count on the bottom hasn’t made it to 13 we’re only on an 8 so we’re still waiting for this 9 to finish it’s bear trend we now have another 9 that can potentially start a whole new 13 count – the bear side this 9 created a 1 to 3 of the 4 candle dead cat bounce and this 9 is making a 1 and now a 2 and then maybe a 3 and then probably go back down because now you’re even below the 200-day moving average you bounce back up there’s a Fibonacci here right now there’s too much resistance um I don’t think Gold’s going anywhere here is the weekly chart on a long term from the all-time high this trendline is significant and your only hope is the bottom of this green one and if it boils into a point into the end of the year there could be a monster crash in early 2018 causing what I mean there are things called the wolf wave Martin Armstrong calls it a slingshot but I like there’s multiple ways to call it but here is the perfect scenario for gold okay I’m gonna refer to it what Martin Armstrong calls it which is a slingshot if gold continues to bounce between these two trend lines and comes to a point ideally a gold would crash out of this symmetric triangle and it would like crash real quickly to about here to about the 800 somewhere between you know 750 and like 850 I you know this Fibonacci line would be nice right just I completely flash while I complete crash but not like a flash crash light like one bad tick I mean like like a really bad week where like people are almost out in the streets screaming manipulation screaming you know government did this you know someone throws a lawsuit at Peter Schiff and some of the other gold sellers a lot like like like really really bad for just a few weeks to a month right like it would be um like I already have a stock market closed like I wouldn’t even know I like basically the opposite of this right so how many weeks did this take this was July to September right so two months two months so in these two months a gold went from what do we got here 1500 to 1900 right so that was a $400 up moving gold right so if we get something similar like what’s the difference between here and here right we got ten thousand forty four and the height is like fourteen hundred so perfect like a four hundred dollar move right so if gold reaches near this point so we’re sitting at let’s say let’s say 1200 right and then BOOM Gold Falls 400 bucks over the next two to three months like a horrible two to three months in 2018 dropping the price of gold into the eight to nine hundred range so let’s say this for Bonacci this would create such a discouragement for anyone holding gold and right there’ll be no more sellers of gold like he’ll be like done like like people’s mentality would be like done and then it reverses and goes to 3,000 okay over the next you know few like a year or two so that is really what I’m kind of looking for I’m looking for just a complete like crash setting up an environment where people hate gold so much they don’t trust the fact that it will ever go back up and then it goes back up and makes new all-time highs and this is what I’m washing for which is why I would not touch gold to the upside now I would wait another six months to a year and then they’ll be like you know the Europe the European Union will like fall apart and there’ll be other problems and maybe God knows what right maybe they’ll find a way to impeach impeach Trump and you know everyone will get scared like I don’t know what the reasons are like there could be many reasons right but I’m still looking for like a complete like dismantling of gold setting up an environment for it to go up all right let’s close gold oh wait that’s not close let me just let me just glance at the at my numerix I know I spent too much time on gold but you know some people like look there’s a lot of gold bugs that are still watching me right alright so the weekly gold is still in a bearish trade this bearish trade would have been executed right here at 12:50 and right now we’re at a facility so this trade is still a go so the daily chart is in a one to four day dead can’t bounce but the weekly chart is still you know stuck here so I this is a five a five is actually a fairly important number because it sets up a nine and so let’s see if we can get on next week is a safe and then we’re looking for our 9 I’m the bear side we never made it to a 9 here 7/8 and then it was done just missed it by one week haven’t had nines here in a while there was a nine cell on the bull trade this bull trade would have been entered right here on the three or the four all right I don’t want to dig into it and then it would have been take your profit prime and then like another bullish trade would have been done right here on this candle and then you would have taken you are made it to an a it almost made it to a nine but once you have an eighth the next day’s either going to be go to cash or if they profit right so either way it’s a bigger profit so there were numerous bullish trades and then this bearish trade would have worked out nice you would have exited right here and this nine would have been a sell setting up you know a couple of days pullback and higher higher didn’t hold and now we’re going lower but you still have this 13 count on the bottom anyway like this indicator does occasionally contradict itself so you got to be you gotta really know what you’re doing but there’s books on this so all right let’s all close it nothing to say about oil it’s in my channel and it’s staying in my channel so I’m not gonna spend any more time I’m bearish oil clearly from all the red that you see here uh the Euro I’m temporarily bullish until it reaches a point this is probably one Gold will hit its low also and on like an early 2000 this is a weekly chart right so maybe not her I mean that’s good last longer than I expect this could be like this you know I don’t know I didn’t expect the Euro to survive into 2018 but you know what my timing is occasionally off so I am looking for more short-term upside in the Euro before I complete the baccala over there okay I’m at 320 live viewers that’s pretty good man wish I can get back to 700 so here’s the coin this is a time where I thank everyone for your donations though I believe there was only like one I also thank my private clients and consulting they’re actually haven’t been any since my last video which is why there’s not going to be much you know Manero or I’m debating if I’m gonna do white coin or not I usually do these things once there are private clients asking me about it and I set up the charts though I hole litecoin so I should talk about litecoin now that it has been coming in and donations yeah if you like coin donations can have come in but that’s okay I don’t work for donations guys I’m uh I enjoy doing these videos like I said in Prior videos here’s the long-term chart of Bitcoin and markup Ellis has admitted that they ran the woolly bath you know causing a lot of this mess this year and a half bear market you know with because of the woolly bot Bitcoin was never supposed to be a thousand dollars back in 2013 it probably screwed up a lot of people me included and you know is there through a reason why I don’t have as much Bitcoin today as I could have had because of this environment right here so it’s unfortunate right manipulation happens everywhere and we deal with it so I don’t believe Bitcoin is in a bubble because it has only gone up to X meanwhile you know scams like aetherium has gone up like 20x right and some of the other ones that are even worse so let’s zoom in here on the weekly candles there’s really not much else to say no nothing really any indicators though they are still fairly elevated and there could be more downside I mean we don’t know that this segment works environment is very tricky I mean the no one really knows so I already have people helping me fix this indicator um so this is somebody else somebody else’s edits to my code I haven’t seen too many differences you know I haven’t dug into the code but you can see that this arrow is red instead of green telling you that it’s time you know get out of your bullish trade so I like that we got to make this one also like the opposite as well like a red arrow so I am working with a few developers to help you fix my code to get it you know perfect so what’s going on here so you didn’t have a bullish trade that started here that should have exited you here taking the rest of your position into cash here your short trade on Bitcoin to those with the cojones to go short I sure in hell never would I would never short Bitcoin I would never sure any old coin or crypto it’s just too dangerous they can go up you know 20x they can’t go down 20x they can only go down 1x right so so so right here so the low of the scandal the law of the scandal mark number two was 2462 so on Monday when this candle number three started trading below this purple line which is at that number right there two four six two according to this indicator Bitcoin became a short play and let’s see how this weekend if this week comes back and closes above the green line see this green line right here if a close above the green line this will become a positive one this will become a green one and everything goes back to cash okay but for now the weekly chart is still showing you short because you were supposed to get a one to four week pullback one to four candle pullback and then you’re supposed to go up so this week is supposed to be enough week but it was a down week so this indicator is telling you that there could be lots and lots of more downside and it’s like with two acts will be responsible for that by the way I have no doubt in my mind all right here is the zoomed out view using the brave new coin liquid index and it’s worrisome it looks a little scary because you have no support you have absolutely no support anywhere here there is my other chart will have a little bit of support between like 1800 and like 2000 but in reality your support is here like you after you broke out above the red line you never really tested that red line so I’m going to take another red line here so somewhere between these two red lines is where your actual support lies so if we start to go down that is where you should go down this is why it wasn’t the best thing in the world for the price to get so high you kind of wanted to get to about here like 1800 2000 and then pull back and test what at least one of these red lines and then go up to go higher when you go up uncontrollably uncontrollably it creates this bubble ish situation that can cause it to go down I don’t believe that it will ever go down below this line but it depends right if they’re big blockers and the hard fort gets momentum anything can happen right anything can happen when you have a bunch of clowns that aren’t the don’t belong you’re a computer programming Bitcoin code I I have a problem with that right so let’s zoom in on the daily here so you had this triple cup and handle and then there was one more cup that was even higher and now we broke this line which is kind of scary it’s it’s not where you want to be you definitely I want to be there for too long so let’s zoom in so so here are my support points and I believe I tweeted this out I tweeted this out right here so here are all of your support points and this one being the most critical and the strongest of them all right so it did we make it to the Green Line and did we make it to the purple or to the purple and blue lines right so let’s go back and glance so we did like the Green Line bounced at once and then it fell through it the blue bounce that a couple of times but now it’s gonna need with the purple okay so our counts I mean the triangle broke out so there was a bullish trade here both off the triangle and off the numerical but then battle fell apart right here this orange one at the 50-day moving average held it for a minute and then there was actually a short trade on the bottom of this too and a second chance to do it on this four and now that both the weekly and the daily are still in the short trade don’t I I wouldn’t get all bullish just yet right because now you have resistance this yellow line is resistance this 50-day moving average is resistance I mean it’s nice that today’s candle is now above the previous candle and the previous candle does have hammer qualities and doji qualities not exactly either of them but has their qualities like it’s good but I would not I would not put on a bullish trade on Bitcoin right here to me these indicators were now below the triangle we’re below the 50-day and the numerical indicator is on a red six telling you that your trade that was entered on to or on four should still be a short trade so it’s nice that we’re bouncing off support but in no way am i bullish Bitcoin off of today’s price action I am still leaning bearish here over bullish or in cash because not everyone wants to short Bitcoin so even though today is a nice day I am not calling for for a buy here but by any means it was easier to call you know Bitcoin a buy in this area here than it is to call Bitcoin a buy in this area here because we’re just so much higher which is so much higher like calling for a perfect buy right here look I called for a perfect buy at 760 right here and that I called for a perfect buy at 950 right here I’m not gonna call for a perfect buy here because if I’m wrong we’re gonna go down to 1300 well this I will call a perfect buy I mean you can risk it and buy at 18 but for me the perfect Bitcoin buy would be around 1250 somewhere between 12 and 13 I think it’s crazy to call for a Bitcoin buy right here it’s a it’s also a dangerous short so even though all of my technical analysis is telling me that if I ignored the fact that it’s Bitcoin I should be in a short trade above daily and weekly I don’t care about the hourly it’s nice that we’ve gone above this high and this is this W pattern which is known so if it holds true you’re looking at the difference between two two two three on BitFenix and looks like about a hundred and fifty bucks right so we had a hundred and fifty dollar gain now if we do go up a hundred and fifty bucks from here that may put us above this Green Line which will then put the weekly chart into neutral it will certainly throw the daily chart on into neutral and then we can talk about you know a bullish trade the next day or the next week but right now I I’m not bullish Bitcoin right now I’m sorry guys a light coin however looks good litecoin versus Bitcoin looks bullish look you have a green candle weekly candle of light Cohen versus Bitcoin that has opened and is starting to close above the previous closing highs so light going against Bitcoin is in a much better shape and then Bitcoin is against the US dollar you’re now on a green five telling you that this trade-off of this two candle is in the green and you should hold it and wait for a nine in order to potentially create your profit from this trade so and you still have this one two three four over thirteen count from this nine and this nine should have called for a one two three and for Kendall pullback which is exactly what it did and on the fifth candle was started to go up showing you that this nine did not lead to a complete reversal from bullish trying to bearish trend but it just took a break before resuming the the trend of the nine so litecoin looks very good against Bitcoin on the weekly chart let’s look at the daily chart after forming this cup and handle and the breakout hasn’t yet occurred it’s been choppy it this trade did tell you to go along right here on the three and it made it to an eight and then the next day was a one so somewhere on this one you were supposed to go to cash but it was still a very profitable trade of white corn versus Bitcoin and then it’s been choppy so this too did not tell you to go short this three actually did tell you to go short litecoin versus Bitcoin but then the next day it went back to cash so this would have been you know a very small stop-loss and now we’re back to a green candle that color keeps flipping so your daily light core versus Bitcoin position should be in cash and check out last night’s video when I talked about this nine and this nine basically this indicator called both points of the big cup so it was really good okay and here’s like coin versus the dollar again I don’t really care for this I don’t really care about hourly charts right now only because like there’s such big events going on that it doesn’t really matter okay so I’ve already gone for 30 minutes I believe rich is here to help me with QA so rich start putting the other questions I’m gonna do my little commentary and then we can we can go to your Q&A I don’t forget if you are 400 viewers I will be driving up to Montreal Thursday morning I will be attending this event in Montreal sponsored or hosted by the coin embassy this event will be live streamed I might do it and somebody else might do it so it’s a preparation for the user so forth I think the cement is very important that’s why I’m willing to drive from New York City all the way to Montreal okay so hopefully I’ll see some of you there I know some of the people watching even right now are from that area all right let me talk about this so I wrote this article on my website yesterday yeah well let me tell you why I don’t write articles guys this article took me half a day I started writing it or about 10:00 10:30 a.m. and I finished writing it at about like 3 or 4 p.m. I am a very slow writer I have to proofread it like 5 times and I bet you there’s still like a dozen plus spelling mistakes and grammar mistakes and and I’m very detailed all of these links are very very good so you really do want to read some of these links through and I specifically made this entire blog post about why August 11th is so important to me okay this was a date I wrote about in 2014 that August 11th will be one of the most important days in the life of Bitcoin I wrote it in 2014 I didn’t think anything of it and now it’s becoming serious okay so unfortunately then line up with August 1st that would have been amazing I think I would have really been known as the Nostradamus of Bitcoin predicting that August 1st was gonna be the most important day of bitcoins life three years but predicting you know August 11th which is ten days off I think it’s pretty damn good so so let’s see what happens okay let see what happens I don’t know what’s gonna happen on this day maybe it’s nothing right and in my here and in this article I talked about you know what I think can happen initially what I thought would happen was price was gonna rally into my day and then we would fall after that day but clearly the price fell earlier so can the price crash into August 11th can segue to X completely screw everything up and crash the price down to 1200 into August 11th of course it can and I would be a big buyer then the other situation is that this date has nothing to do with price because this is a data analysis this analysis is independent of price sometimes it coincides with the price and sometimes it does not and hopefully oh nothing has to happen that day but I really like how these events are surrounding this they are so important my previous day was June 16 and that surrounded the entire Greek banking shutdown so I give you a you know here’s a an article Bitcoin surges as Greg said worries mild that came out on June 16th itself the Greek banks shut down on Sunday and they did not open on Monday they announced it on Sunday on June 28 that the banking system is gonna shut down so once again I was about 10 days off from a very very critical day in the life of Bitcoin I still think this point in time changed the bearish trend of Bitcoin to the to a bullish trend and it got on a global radar once again sometimes these days and I use this analysis from Martin Armstrong’s work so you can read more about it here in my intro and I I always remember February 27th 2007 and let me click on this so this was one of the days that Martin Armstrong had on his list of you know critical days I the February 27th 2007 I mean I wasn’t reading moron from back then in fact in 2007 he was still in prison okay and he went to prison in 1999 so here’s his date um let me see where’s the here it is so so this date mm 7.15 or february 27 2007 and you can see it like right here this was in his writing long before he went to prison back in 1999 and you can read more about his history and stuff and this was actually my second day of work at Bear Stearns so I got I got hired by Bear Stearns is my first financial job and my first day at work was February 26th 2007 the this is my second day at work became known at my job because I had to build a stress test as a risk analyst to stress future models my second day at work I named that day the Shanghai surprise my second day at work the Dow Jones fell 400 points on that day February 27 2007 it was one it was the biggest one-day crash since the 1987 crash I think um it was something bad or like since the 2000 crash it was like a really bad day and it was like panic in the market and that was my second day on the job in finance and that was the day I was dealing with and then later when I when I started reading more on Armstrong’s work probably in like starting 2012 or something like that or 2013 maybe 2011 I remember I ran across that this was one of his days that he predicted long ago and I’m like wow because I clearly remember this day as my second day on the job dealing with a big market fallout so ever since then I really liked his work and that’s why I applied his work to this time analysis here to come up with August 11th and so let’s see what happens all right so quick comments on I think I can just stop sharing camera at this point oh no one more thing so I am really really getting frustrated with second with 2x bullshit and it’s getting starting to be beyond bullshit like like bullshit is and not having a good way to say so not a single developer on this list supports the seg with talks idea and there are these complete fools on Twitter and YouTube and all of the other social media that are commenting at me if only core would support a block size increase everything would go smoothly like I don’t understand like how stupid a person has to be to say that IIIi don’t understand how stupid a person has to be every core developer is telling you that in their financial expertise it’s a bad idea it’s like you had a nuclear and some fool on Twitter comes in and says um can we throw you know this new this mixture of uranium and plutonium into this nuclear reactor it might be better and then you have you know a hundred new scientists telling you no that’s a bad idea and some are even laughing at you and then these fools are standing there going well if only you supported this idea it would work like like like I hate using the word retarded but these people like have to be retarded at this point right like when you have a hundred experts telling you this is a bad idea and you’re sitting there telling them if only they supported it well like what the hell like what the hell all right it’s here’s the other problem if these guys came out and supported right now I would want all of them fire I would want greg maxwell fired i would want eric Lombroso fired I would not want any of these guys to touch Bitcoin code again if they’re gonna go against their ethics if they’re gonna go against what they know has come scientists is wrong and they compromised on what they know is wrong I don’t want these guys programming Bitcoin code I don’t know who I would one program in Bitcoin code I would want either someone like new people coming in I would I would I would actually call up the Federal Reserve and I would ask him to bring in their developers at this point right because I would trust the Federal Reserve’s computer science department better than the people programming side which works better than the people programming Bitcoin unlimited and if these guys give up on their principles and – we’ll have the Federal Reserve Program Bitcoin at least I’ll know what the inflation rate is at that point so so so this is completely ridiculous okay meanwhile everyone seems to think that it’s OK to go against users and to go against the core developers in hard-working Bitcoin you know what hard for Bitcoin make it you’re damned old coin and go go your own way go hard for you ok anyone competent is gonna be running the user activated soft work they’re gonna be running BIP 1:48 we’re gonna get seg with by August 11th and we’ll have one chain and if those idiots want to go hard forth to two megabytes go hard for it – two megabytes all right like this is insane um oh I forgot where I saved that chart hold on a second here it is so I pulled this up the other day I forgot who made this it might have been bitfury I don’t know but here this is how insane this is okay this tells you what the Layton sees there are so many problems I mean forget the fact that the community will split with with the block size increase just look at this this is the reason why it was lowered in the first place block verification time okay look right now it takes point 15 seconds to verify a block okay look what happens if a block is 32 megabytes it will take almost seven seconds to validate a block that means the miner that built that block has now a seven second advantage on finding the next block that is important look how fast you are freaking blockchain is growing under a larger block size this is insane this is insane you don’t hard work you leave it at one megabyte until you have absolutely no choice and your group of 100 top core developers are now saying that you know what maybe now the risk of of a two megabyte hard work or maybe a 1.5 megabyte hard fork maybe right now the risks are worth it but right now the risks aren’t even working worth it to consider the situation to consider the situation okay and also look we have way more people preferring the user activated software I mean look at this look at this okay we’re getting there guys we’re getting there we’re almost there look at all of these companies that are preferring the the user activated soft fork just look at them okay don’t listen to crazy people don’t listen to freakin bitpay okay don’t listen to bitpay who gets to have their word on Bloomberg right this is ridiculous bitpay is now a subsidiary of bit me okay they should just rebrand they should have three brand two-bit main pay okay so so don’t listen to this nonsense okay stick with the user activated so forth and get ready and I will be setting up my minor I have twelve hours starting at midnight and like to get it done before I’m gonna go to Montreal to this event so hopefully I’ll see a bunch of you guys there all right time to stop sharing camera and and get to your questions let’s see what we got here all right thank you rich helping me out with the questions again thanks everyone for your donations thanks everyone for you or for your support thank you to the private clients that should be coming back I’ve been a slow week but I’m sure will come when a price of Bitcoin dips I guess so are people’s interests and I in spending all right let’s get to your questions are your chart using weighted moving average or exponential moving average or simple my charts use simple moving averages for some reason I prefer to simple move an average one of the reasons is because it’s the most popular moving average I find I sometimes with technical analysis sometimes if you’re the only one using something is great you have an advantage but the other time is you want to use something everyone else uses because that helps you know everyone kind of pile into the same trade so I use simple moving averages next if BTC Forks would both Bitcoin core and B you go to all-out war without holding back trying to sink the other side I don’t know what’s gonna happen guys I don’t expect Bitcoin fourth I still give Bitcoin a 5 to a 10% probability of a hard for they’re not going to fork they will lose all of their money they will go broke decide that hard Forks will not survive they will literally go broke if if they could hard for if they would have hard for it with classic with the XT with unlimited they tried hard our fortune with unlimited by the way they lost their 13 and a half bitcoins when they bind an invalid block and then they never did it again right so they already tried that that should don’t worry that shit don’t fly so let’s see what happens to begin the sequence countdown you need nine consecutive closers greater than the fourth day prior right yes that is correct okay I don’t have the chart but yes that is correct so when you get those consecutive nine counts each close has to be greater than the close four days earlier it’s correct that’s so that’s in the cold that’s how the code is that’s what the code is based on all right next do you think the currencies like – or pivots could overtake Bitcoin in the long run because they have no governance issues and can react to market needs much faster absolutely not so – and pivots are both straight-up scams they have a governance issue a Bitcoin doesn’t have a governance issue okay so okay here’s the thing right so what you see as a positive with the governance anyone that understands what decentralization is sees that as a negative the fact that there is a governance structure in – it means that a it’s corrupt by the people that are doing the governance and B it’s corruptible by people with guns they’re just gonna walk in and arrest whoever is responsible for that governance that they don’t like right so the fact that these currencies have governance is a huge negative for these currencies and not a positive they were also you know like – was pre mind and – is proof of stake a lot like – is complete another garbage so they even if they were launched fairly and even if they were ran fairly like litecoin let’s say they still would not really have a chance to over they Bitcoin right and but they don’t even have that I mean they did they scam their way into their value and that value will not hold okay all right oh by the way here’s a great trade here’s a great trade right so if you’re an insider of some other scam like Z cash right so what you do is you load up on Z cash you short – and that same week so you load up on Z cash one week or some other scam coin right you short the share of – that same week then you know you text message Amanda Johnson or for her you know 50 grand to leave – and join the coin that you just purchased and the following day they she will start making videos calling – scam and your coin is the greatest thing ever drop moving all of the value of people that you know find a pretty and like her videos and whatever else right and you will completely take like 30 or 40 percent of market share from – into your scam right this is totally doable it’s an amazing civil attack and I kind of would love to see someone do it just take Amanda just take her onto your scam and prepare financially so you’re profiting from her leaving – you’re profiting from her pumping your coin and you’re paying her like a small percentage along the way right because you can profit way more than the fifty or a hundred grand it’ll cost to you know get Parata there maybe it’ll cost a little bit more right you can get into a bidding war with Evan right because Evan scammed himself into scammed for himself all that – so he’s probably sitting on millions of dollars so it’s possible that he can outbid you he can like offer her a million dollars so Amanda structure like threatened to leave and pump another coin and then she can just you know extract more and more value well I like text Evan every day hey so this month I’m thinking of going to icy cash unless you transfer you know 40 grand worth of Bitcoin or – or whatever the hell she wants and then like the next month or like hey so I’m thinking I’m going to pivots yeah I’m gonna need another 50k there’s like hey I need a I need a haircut I need to change my style so I’m gonna need another 30 K or I’m gonna go pump another scam coin so this is totally doable guys it would be interesting alright next would your bull bias unlight coin change or be affected by the apparent fact that LTC USD seems to be following BTC USD at least under well they all follow BTC USD right well I like when Bitcoin you know when Bitcoin sneezes the entire crypto market catches a cold right so obviously litecoin is always gonna mimic Bitcoin in USD terms and I’ve said on prior videos that always feels like white coin has been reacting faster and has been leading Bitcoin like white coin would like crash first and then Bitcoin and then like one would recover first and then Bitcoin and I think that’s because a lot of people have moved their Bitcoin into cold storage because of what’s gonna happen in August and instead they’ve been trading with light coin in order to they’ve been trading with light coin in order to I’m sorry guys and get another Skype call here I’m not sure one second okay done but I was looking at the sky for questions and I’m getting a call coming in alright let’s get back to this so I’ve been noticing that people have been using a light point is like a trading proxy because they’ve already moved a lot of their Bitcoin into cold storage this is just speculation on my part but I but but no there’s two completely independent things like I don’t even bother looking up like linen on the short-term in dollars right now but like coin against Bitcoin in a better bullish position than Bitcoin does against the US dollar and I explained that earlier in the video alright next will your segment in today in Bitcoin on the world crypto net will be a daily thing or only when there is something to report it will be I you know how tone feels in the morning thing right like for example it’s usually around 8 a.m. Pacific time which is 11 a.m. my time so if I’m home and I’m free for like the 10 minutes it takes through that show I’ll do it right it’s independent of whether there’s something is or isn’t going on in Bitcoin because it’s only like I’m trying I’m gonna try and get that segment down to like a minute or at worst a minute and a half and I’ve wonder if people still gonna watch my videos so they can get a minute summary on the price but it has nothing to do with whether there is or isn’t anything going on in Bitcoin it just has to do whether I am available to do that show at around 11:00 a.m. New York time or wherever I am in the world during that show right so that bet all-in depends on that so for those that don’t know go to the world crypto Network YouTube channel we are now doing like a five to seven minute daily morning show and just to keep everyone updated on the news for the day and I’ve been doing like a one-minute Bitcoin price summary with my charts yes I guess it’s possible for you to do it in a minute alright next will there be a crypto 10 or similar to the Nasdaq can no I I mean there already is right I mean anyone can put that together like look if it’s not Bitcoin it’s probably useless litecoin seems to be okay Mineiro is kind of okay but that’s it I mean everyone else is already doing this right like yeah anybody can do it you want to hold the top ten crypto in proportion fine you’re gonna lose you’re gonna lose in Bitcoin is going to outperform your top ten each and every time each and every time on a long-term scale give it one or two years and Bitcoin will out form any top-10 okay because whatever was number two is gonna go to number 20 and whatever was number 20 will eventually go to number two but by the time you buy into it it’s gonna be near number two so you can try it and you might beat the market you might be Bitcoin for a short amount of time but at the end of the day you will not be Bitcoin with your crypto cough tab next why is it either segue to X or user activated so fourth equals chain split which is detrimental to the confidence of Bitcoin why can’t do nothing be an option or any other option for that matter okay that’s a good question two reasons why do nothing is in third option first of all when those big blockers starting spamming the shit out of the Bitcoin network to push their big blocks agenda people like me got very frustrated and said it’s time to scale back when I debated Roger Roger Vere in Mexico in February I said I would be okay with status quo and $100 transaction fees when it came time for me to pay those hundred dollar transaction fees to you know move my Bitcoin donation account to a safer place because of the hard fort I I was not happy about it right so and they were driving the fees through the roof and I I’m friends with like some wallet CEOs and they were getting very frustrated because their wallet software wasn’t like perfectly estimating correctly and people were complaining and all this stuff right and I cannot want to start the scale it’s time to rip the damn band-aid psyche what has been ready for over a year users once said what everyone says it’s safe code life coins been using it for a while other old coins have already adopted it we can’t have shift coins you know advancing in technology faster than Bitcoin with bitcoins developers as making that technology right it was time to scale the other that’s one problem oh we’ve had enough we’ve had enough and we need segue so here comes the user activated so here’s the other situation while they’re delaying user activated soft fork they keep pushing they keep pushing more and more garbage well we can’t get that so let’s do this let’s do extension blocks let’s do bitcoin ng let’s do Bitcoin unlimited let’s do this garbage let’s do dad garbage they keep pushing they keep pushing you know take over code onto Bitcoin and again we’ve had enough people like me have had enough I’ve had enough listening to their other proposals that will let them keep their AC boost that will let them control transactions that would let them have these higher fees because the miners don’t like low fees right we’ve had enough right and we need these people out when the Bitcoin is to scale safely and it’s time to just get it and if the economic nodes start running start enforcing bit 148 it will not be a problem miners will have to start mining it and you know what there’s a lot of miners that will love to mine it and mind those blocks I’m gonna be on slush fool whining pip 148 oh hey the what’s the hash rate the higher the chances people like me can find a block next well I think that’s it I think I’m done with questions guys wow this is great did I really just get a showdown in one hour I think that’s perfect so rich solace you have another question I could go to the live chat Aven see I’m at 450 viewers right now guys please stop asking me about old coins if you want to know my opinion on an old coin just Google me with that old coin right there’s also a podcast called crypto scam if you’re asking me about a coin that was covered in crypto scam please go watch crypto scam okay someone’s asking me to look at usd/jpy sure are maybe next time I’ll try and sneak that in do you think that Bitcoin August events will be the same as BTU crash in January I don’t know I don’t know what to expect guys I can’t speculate on what’s gonna happen in August because we’re not near walkest yet right we still have a month to go someone says do you believe in implementing trading strategy strictly based on supply and demand that question makes no sense to me in my personal experience I’ve never found a better way to trade I’m yet you never mention it because I have no idea what what I don’t know what trading strategy is based on supply and demand are like where do you get your data where do you get your supply data where do you should demand data if you’re talking looking at the order book I think that’s the stupidest way to trade I never look at the order book I think it’s meaningless and I’ve talked about that on previous shows alright hey guys you have to realize that there’s a difference between a chain split in the heart for they’re not the same thing so when someone is Manish mentioning in the comments that I changed split would be detrimental it’s not a chain split is not a hard work so please look up the differences and then I’ll follow up with maybe another question later on I don’t know what’s gonna happen in the next 10 to 20 days III can only tell you this week’s scandal and what needs to happen this week in order to enter a trade next week like I like the environment changes every day I have no idea I mean I don’t even know who’s programming segue to axe or where the hell what the hell they’re doing because it’s tough like can you open right like nobody knows and all these people have committed to running it it’s insane yeah if there are two bitcoins if there is a sustained hard fork um you probably won’t be hearing for me because I’m gonna go back to you’ll be hearing from me but if you care about gold and oil I’ll be I’ll be way more detailed Gold oils and p500 I’ll be trading those I mean I’ll I’ll I’ll get out you know I’ll get out a Bitcoin like I’m not I’m not here to deal with two bitcoins I’m here to deal with one how can Bitcoin become universally adopted accepted with the current transaction issues I don’t want Bitcoin to be universally accepted and adopted right now especially accepted bitcoin is not here to be accepted for your cups of coffee bitcoin is here to quote another developer bitcoin is here to make transactions people with guns say you can’t make no one is telling me I can’t buy a cup of coffee but they are telling me I can’t do certain things and that’s what bitcoin is for I don’t care if it’s universally adopted okay it’ll come when the other side screws up like we need to slowly scale we need to safely scale okay III don’t want to be visa right now I don’t care like my visa works for me just fine I just got my uh another visa I think I just got like my eight credit card or temp credit card she’s got and I finally got like the visa Amazon Prime card time to say five percent on every Amazon purchase with my Amazon Prime visa right like like look I don’t need purse that I owe I’m saving five percent by using Amazon’s credit card like why do I need to say five percent by using my Bitcoin which is way too valuable for me to use I’ll use a credit card I can also do a chargeback I have the advantage by using a credit card how do I determine the intersection and price flip on the setup the color changes of the numbers tone why is everyone who can say Bitcoin could fall below 100 because of the volatility between now and then the soul should storm there will be winners but many are going to lose well it’s not gonna go below 100 I think you might have meant a thousand I can see it going down to a thousand and people will panic people panic and people will sell especially people that just bought people that just bought there they’re gonna be scared and they’re gonna sell and if you think you’re gonna be a buyer of Bitcoin haha trust me if Bitcoin fell from two thousand three hundred it is today two 1000 by spite this Sunday by this Sunday it’s not just gonna fall for no reason it’s gonna fall for some pretty damn serious reason and whatever that reason is it’s probably gonna scare the shit out of everyone that says I would buy Bitcoin for $1000 yeah anyone would buy a Bitcoin for $1000 that they can turn around and sell for 2000 the next day but not many people will be buying Bitcoin for $1000 when it has fallen in 3 days from 2000 to a thousand and you have no idea if it is going to a hundred the following day okay you watch you’re gonna be in a when it’s time to actually put your thousands of dollars in the line yeah maybe you’ll buy you know like three hundred dollars worth $500 worth but you’re ain’t gonna put you ain’t gonna dedicate 50 grand to Bitcoin when it falls from two thousand to one thousand and three days to trust me right no one’s that crazy well a few people are that’s how they ended up with a hundred thousand Bitcoin back in the day but most of these bets they don’t work out they just don’t all right next is it possible to mine solo on slash pool that’s a contradictory question if you’re gonna mind solo you don’t need a pool all right someone saying you said you will be using your Tresor and the user activated soft fourth side of the chain when I set up my truss when I said my Tresor up will it ask me which side of the chain I want to use metros or there’s a drop-down so slush tweeted it out there’s like a drop-down where you can choose from a drop-down what kind of node you want to use your Tresor with so check that out whoa July 21st be a day we know a lot more about segue to axe probably July 21st I’m on an airplane I’m flying to California I’m gonna spend six hours on a plane so wolfs we’ll see what happens yeah segue to X was tested on a test on a brand-new test net and in hard forth on a test net you know anyone surprised I’m not I don’t know where you can short Kryptos like litecoin I don’t trade this stuff I trade other stuff but I’m sure there are are you buying any you know what I’m not gonna mention projects I’ve never heard of guys I know you want me to say a project’s name so that someone else can make a post same tone mentioned this project I’m not doing it I’ve never heard of it I’m not gonna mention where do i trade traditional markets I trade on Interactive Brokers that’s my i broker Interactive Brokers well I do my narrow charts again sure I’m going to wait for another private client to ask me about my narrow and then I’ll share the chart the updated chart okay so another question after a hard fork core devs and majority of users stay on the legacy chain and only all of the big blockers are with new shit coins what to be afraid of why leave one year setback big deal no it is a big deal it’s a big deal we can’t one year setback right there are too many users of Bitcoin that have no clue that segue to our success they have no clue that segue exists they have no clue who I am they’ve never heard of me they have no clue who Roger Vera’s they have no clue who even Satoshi is well nobody does but they’re even never even heard of Satoshi there are people using Bitcoin today that have never heard the word Satoshi you do not want to bitcoins because these are your users these are your users of the coin if you never thought about people using Bitcoin who did not even know never heard of the word Satoshi you have not really thought about the current situation and what Bitcoin really stands for we can’t have two bitcoins we can’t have these people confused in one Bitcoin Bitcoin can’t go down can’t split into two let me see what else I got people are complaining that I don’t know anything about the EU I’m going I’m gonna spend five weeks in the in the European Union and starting September I’ll get back I don’t see how my view is gonna change alright guys I think this has been good enough I’m keeping it to an hour 20 I went through a bunch of your questions so um catch me on the next one again thank you for your donations thank you to the private clients and I’ll see you all on the next one alright bye guys